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Report on the proposed new tax bill that is up for vote in California.


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In California, lawmakers are considering a new tax bill that would have a significant impact on state residents. The bill would raise state income taxes for those making over $1 million a year but would provide tax cuts for those who earn less. It would also increase taxes on businesses earning over $2 million in a year, as well as increase taxes on cigarettes and liquor. The bill also includes provisions for a new tax on short-term rentals, such as those listed on Airbnb. The money collected from the tax would go towards public schools and infrastructure throughout the state. The California legislature is expected to vote on the proposal soon.